ABUJA – The Chairman of the Senate Committee on Banking, Insurance, and Other Financial Institutions, Senator Adetokunbo Abiru, on Wednesday, June 26, 2025, received the official presentation of two presidential nominees for key leadership positions in the Nigeria Deposit Insurance Corporation (NDIC).
The nominees, one for the role of Managing Director and the other for Executive Director, were formally introduced to the committee by Senator Ibrahim Lado, who acted in line with the provisions of the NDIC Act and the directives of the Presidency.
While the identities of the nominees were not immediately disclosed in the preliminary hearing, the committee confirmed that their credentials, professional track records, and visions for the corporation would be thoroughly examined during the screening process.
Senator Lado, in his address to the committee, highlighted the importance of swift and diligent consideration of the nominees, noting that the NDIC plays a vital role in safeguarding the financial system, protecting depositors, and fostering public confidence in Nigeria’s banking sector.
“These nominees have been carefully selected by Mr. President based on their experience, integrity, and knowledge of the financial services industry. Their confirmation is critical to sustaining stability and innovation within the NDIC,” Lado said.
In his remarks, Committee Chairman Senator Abiru assured that the screening process would be transparent, rigorous, and focused solely on merit and the national interest. He acknowledged the urgency of appointing capable leaders to the NDIC amid ongoing reforms in the financial sector.
The Nigeria Deposit Insurance Corporation is a key player in the financial ecosystem, providing deposit guarantees and resolution support to distressed banks. The corporation also collaborates with the Central Bank of Nigeria (CBN) and other stakeholders in ensuring banking system resilience.
The committee is expected to conclude the screening and make recommendations to the full Senate for final confirmation in the coming days.
